London Residential Property Rental Market Report – July 2018

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London Residential Property Rental Market Watch – July 2018

Introduction

Welcome to the first volume of London Rent Watch; our data tracker of the residential lettings market in London, with a detailed view of the private rental sector in our six core market areas in South and West London – Chelsea, Hammersmith, Fulham, Clapham, Balham and Putney.

The objective is to keep landlords with assets in these boroughs informed of the local and regional trends in the value of return on their buy-to-let investment. At the end of each calendar month we’ll publish live, up-to-date data on mean and median average rental values, broken down by property type and size.

London Rental Values

12 Month Variance

Rental values across the capital cooled in the 12 months to June 2018, with the ONS reporting an annual decrease of 0.2% for the second month in a row. When the drop was recorded in May this was the first month since September 2010 that London’s letting values contracted.

With letting values in Britain as a whole rising 1% in the same period, and the UK excluding the capital up 1.6%, London is the only region in the country where annual rental values are falling.

Headline Rent Values in London – July 2018

SAMPLE SIZE: 77,703 properties

LONDON

July 2018

Monthly Change

Mean Average Rental Value

£2,914 pcm

N/A

Median Average Rental Value

£1,950 pcm

N/A

Rent Values by Bedrooms in London – July 2018

LONDON

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

One bedroom

28%

£1,895 pcm

N/A

£1,560 pcm

N/A

Two bedrooms

42%

£2,661 pcm

N/A

£2,015 pcm

N/A

Three bedrooms

18%

£4,150 pcm

N/A

£2,600 pcm

N/A

Four bedrooms

8%

£4,926 pcm

N/A

£3,000 pcm

N/A

Five bedrooms

3%

£7,558 pcm

N/A

£4,312 pcm

N/A

Rent Values by Property Type in London – July 2018

LONDON

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

Room

5%

£753 pcm

N/A

£685 pcm

N/A

Flat

82%

£2,765 pcm

N/A

£1,950 pcm

N/A

House

13%

£4,642 pcm

N/A

£2,650 pcm

N/A

Chelsea Residential Rental Values

SAMPLE SIZE: 5155 properties

Headline Rent Values in Chelsea – July 2018

CHELSEA

July 2018

Monthly Change

Mean Average Rental Value

£5,811 pcm

N/A

Median Average Rental Value

£3,358 pcm

N/A

Rent Values by Bedrooms in Chelsea – July 2018

CHELSEA

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

One bedroom

28%

£2,911 pcm

N/A

£2,275 pcm

N/A

Two bedrooms

47%

£4,326 pcm

N/A

£3,423 pcm

N/A

Three bedrooms

17%

£8,650 pcm

N/A

£6,500 pcm

N/A

Four bedrooms

5%

£14,026 pcm

N/A

£9,984 pcm

N/A

Five bedrooms

2%

£26,783 pcm

N/A

£19,500 pcm

N/A

Rent Values by Property Type in Chelsea – July 2018

CHELSEA

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

Room

1%

£873 pcm

N/A

£840 pcm

N/A

Flat

89%

£4,812 pcm

N/A

£3,250 pcm

N/A

House

10%

£14,887 pcm

N/A

£9,750 pcm

N/A

Hammersmith Residential Rental Values

SAMPLE SIZE: 3030 properties

Headline Rent Values in Hammersmith – July 2018

HAMMERSMITH

July 2018

Monthly Change

Mean Average Rental Value

£3,127 pcm

N/A

Median Average Rental Value

£2,578 pcm

N/A

Rent Values by Bedrooms in Hammersmith – July 2018

HAMMERSMITH

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

One bedroom

25%

£1,987 pcm

N/A

£1,755 pcm

N/A

Two bedrooms

45%

£3,053 pcm

N/A

£3,000 pcm

N/A

Three bedrooms

21%

£4,197 pcm

N/A

£3,813 pcm

N/A

Four bedrooms

6%

£4,264 pcm

N/A

£3,499 pcm

N/A

Five bedrooms

4%

£8,567 pcm

N/A

£6,284 pcm

N/A

Rent Values by Property Type in Hammersmith – July 2018

HAMMERSMITH

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

Room

2%

£850 pcm

N/A

£803 pcm

N/A

Flat

89%

£2,861 pcm

N/A

£2,492 pcm

N/A

House

9%

£6,262 pcm

N/A

£4,312 pcm

N/A

Fulham Residential Rental Values

SAMPLE SIZE: 3009 properties

Headline Rent Values in Fulham – July 2018

FULHAM

July 2018

Monthly Change

Mean Average Rental Value

£3,090 pcm

N/A

Median Average Rental Value

£2,383 pcm

N/A

Rent Values by Bedrooms in Fulham – July 2018

FULHAM

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

One bedroom

26%

£1,968 pcm

N/A

£1,798 pcm

N/A

Two bedrooms

46%

£2,736 pcm

N/A

£2,427 pcm

N/A

Three bedrooms

19.5%

£3,812 pcm

N/A

£3,250 pcm

N/A

Four bedrooms

9%

£5,430 pcm

N/A

£4,008 pcm

N/A

Five bedrooms

0.5%

£8,446 pcm

N/A

£5,417 pcm

N/A

Rent Values by Property Type in Fulham – July 2018

FULHAM

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

Room

3%

£847 pcm

N/A

£823 pcm

N/A

Flat

85%

£2,635 pcm

N/A

£2,200 pcm

N/A

House

12%

£6,685 pcm

N/A

£4,767 pcm

N/A

Clapham (Lambeth) Residential Rental Values

SAMPLE SIZE: 1054 properties

Headline Rent Values in Clapham – July 2018

CLAPHAM

July 2018

Monthly Change

Mean Average Rental Value

£2,149 pcm

N/A

Median Average Rental Value

£1,848 pcm

N/A

Rent Values by Bedrooms in Clapham – July 2018

CLAPHAM

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

One bedroom

23%

£1,569 pcm

N/A

£1,495 pcm

N/A

Two bedrooms

41%

£1,937 pcm

N/A

£1,798 pcm

N/A

Three bedrooms

22%

£2,402 pcm

N/A

£2,340 pcm

N/A

Four bedrooms

9%

£3,303 pcm

N/A

£3,163 pcm

N/A

Five bedrooms

5%

£4,736 pcm

N/A

£4,767 pcm

N/A

Rent Values by Property Type in Clapham – July 2018

CLAPHAM

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

Room

3%

£4,767 pcm

N/A

£755 pcm

N/A

Flat

83%

£1,945 pcm

N/A

£1,755 pcm

N/A

House

14%

£3,624 pcm

N/A

£3,445 pcm

N/A

Balham (Wandsworth) Residential Rental Values

SAMPLE SIZE: 751 properties

Headline Rent Values in Balham – July 2018

BALHAM

July 2018

Monthly Change

Mean Average Rental Value

£2,201 pcm

N/A

Median Average Rental Value

£1,850 pcm

N/A

Rent Values by Bedrooms in Balham – July 2018

BALHAM

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

One bedroom

23%

£1,436 pcm

N/A

£1,398 pcm

N/A

Two bedrooms

36%

£1,822 pcm

N/A

£1,733 pcm

N/A

Three bedrooms

24%

£2,498 pcm

N/A

£2,297 pcm

N/A

Four bedrooms

11%

£3,239 pcm

N/A

£3,055 pcm

N/A

Five bedrooms

6%

£4,465 pcm

N/A

£4,225 pcm

N/A

Rent Values by Property Type in Balham – July 2018

BALHAM

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

Room

2%

£832 pcm

N/A

£720 pcm

N/A

Flat

75%

£1,814 pcm

N/A

£1,700 pcm

N/A

House

24%

£3,533 pcm

N/A

£3,402 pcm

N/A

Putney (Wandsworth) Residential Rental Values

SAMPLE SIZE: 4027 properties

Headline Rent Values in Putney – July 2018

PUTNEY

July 2018

Monthly Change

Mean Average Rental Value

£2,961 pcm

N/A

Median Average Rental Value

£2,275 pcm

N/A

Rent Values by Bedrooms in Putney – July 2018

PUTNEY

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

One bedroom

20%

£1,816 pcm

N/A

£1,582 pcm

N/A

Two bedrooms

46%

£2,671 pcm

N/A

£2,210 pcm

N/A

Three bedrooms

18%

£3,584 pcm

N/A

£2,708 pcm

N/A

Four bedrooms

10%

£4,119 pcm

N/A

£3,445 pcm

N/A

Five bedrooms

5%

£6,048 pcm

N/A

£4,983 pcm

N/A

Rent Values by Property Type in Putney – July 2018

PUTNEY

% of sample

Mean Average rent

Monthly Change

Median Average rent

Monthly Change

Room

3%

£787 pcm

N/A

£702 pcm

N/A

Flat

81%

£2,653 pcm

N/A

£2,145 pcm

N/A

House

16%

£4,835 pcm

N/A

£3,750 pcm

N/A

About the Data & Methodology

Data Sourcing

The data in our Rent Watch tracker is a live to-the-minute snapshot of residential rental values, aggregated from the UK’s most comprehensive database of current asking rental values on home.co.uk. We collect the data for London as a whole, and for each of our six focus areas in South and West London – Chelsea, Hammersmith, Fulham, Clapham, Balham and Putney.

This month’s data was compiled at 15:00 on 23rd July 2018.

Methodology

The data is first broken down by property type and by the number of bedrooms, with each of these groups expressed as a percentage of the sample size for each location.

The mean average rental value is calculated by dividing the sum of all rental values in the sample y the number of properties in that sample.

The median average rental value is calculated by arranging every rental value in the sample from smallest to largest, and selecting the single value for which 50% of the values are above and 50% are below.

The monthly variance is expressed as a percentage increase or decrease from the data we collected in the previous month, to show a monthly change in rental values within the given sample.